Advertisements
Advertisements
Question
Which of the following is not the salient feature of bank reconciliation statement?
Options
Any undue delay in the clearance of cheques will be shown up by the reconciliation
Reconciliation statement will discourage the accountant of the bank from embezzlement
It helps in finding the actual position of the bank balance
Reconciliation statement is prepared only at the end of the accounting period
Advertisements
Solution
Reconciliation statement is prepared only at the end of the accounting period
APPEARS IN
RELATED QUESTIONS
Answer in one sentence:
Who prepares a bank Pass Book?
Give one word/term/phrase which can substitute the following statement:
Statement showing the causes of disagreement between balance of Cash Book and Pass Book.
Do you agree or disagree with the following statement:
Bank statement enables account holder to prepare Bank Reconciliation Statement.
Select the most appropriate alternative from those given and rewrite the following statement:
Bank gives overdraft facility to __________ account holder.
Complete the following statement:
A statement showing the reasons for difference in Cash Book balance and Pass Book balance is known as ___________.
The bank reconciliation statement is prepared by the banker.
Give any three reasons for preparing bank reconciliation statement.
From the following details prepare Bank Reconciliation Statement as of 31st Dec. 2018.
1. Bank overdraft as per Cash Book on 31st Dec. 2018 was ₹ 48,450.
2. Bank charges for SMS alerts ₹ 370 were debited in passbook but not recorded in Cash Book.
3. Interest in overdraft ₹ 2,870 did not appear in Cash Book.
4. A bill for ₹ 12,000 discounted with bank appears in Cash Book at the full amount but the bank has deducted ₹ 200 discounting charges.
5. Cheques issued but not presented for payment before 31st Dec. 2018 amounted to ₹ 32,300.
6. Cheques amounting to ₹ 24,000 were deposited into the bank but only a cheque of ₹ 8,000 was collected by the bank before 31st Dec. 2018.
7. Paid stationary bill ₹ 11,300 by debit card. It was not recorded in Cash Book.
From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹ 20,000
- A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
- Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book
- Payment side of Cash Book was undercast by ₹ 100.
- Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book
From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹20,000.
- A cheque for ₹3,500 was issued and paid by bank, recorded in Pass Book as ₹5,300.
- Cheque deposited ₹9,700 collected by bank was not recorded in Cash Book.
- Payment side of Cash Book was undercast by ₹100.
- Electricity bill paid by bank ₹6,200 was recorded twice in Pass Book.
